Press Release: Commission proceeds with excessive deficit procedure for France

In accordance with Article 104(8), the European Commission recommended to the Council on 8 October 2003 to decide that France has taken no effective action in response to the Council Recommendation according to Article 104(7) of 3 June 2003 within the period laid down in that Recommendation. The Commission is thereby honouring its obligations laid down in Article 104 of the Treaty, as well as its political commitments given in the European Council resolution on the Stability and Growth Pact for a strict, timely and effective functioning of the Pact.